Bitcoin Price Spikes Above $1,300 as ETF Decision Nears

Bitcoin prices saw a significant price spike this morning, briefly shooting above $1,300 to hit a new all-time high. Markets peaked at an average of $1,325.81, according to the CoinDesk Bitcoin Price Index (BPI), before falling sharply back below that level to hit a daily low of $1,178.54 – a change of roughly $133 within minutes. The price drop appears to have been seen most directly on digital currency exchange Bitfinex, reaching a low of $1,067.20, according to BFXData.com At press time, the price is an average of $1,263.98, BPI data shows. The price developments come as the US....

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Amid continued highs in trading and price, Bitcoin’s transaction backlog is giving out warning signs of a network already at capacity.
Data from Blockchain.info uploaded to Twitter by Chain engineer Tony Arcieri showed constant spikes in the Bitcoin mempool, the vat of unprocessed transactions waiting for confirmation.
“The Bitcoin mempool, a buffer of unprocessed transactions, has been flaring up a lot now that the system is at capacity, only 4tps average,” Arcieri commented.
Notably, the size of such transactions peaked around Feb. 23 at just under 75 mln bytes,....

The Christmas period is traditionally pretty subdued across the financial asset markets, and bitcoin is no exception to this rule. Low participation rates weigh on volume, and make it difficult to form any real intraday bias as a result. With low volume comes spikes, and with spikes come breakouts, however, so just because participation might be low, there’s no reason we can’t draw a profit from any action. Financial markets across the globe reopened yesterday (albeit not for a full week with New Years coming up on Friday) and its time to get back into our bitcoin price watch....

As we have noted on a few occasions over the last couple of days, action in the bitcoin price has been relatively flat as late. We've seen very few breakouts, and only a couple of spikes that have tested our key levels. This has made trading our breakout strategy pretty frustrating, as the spikes don't validate entry based on the fact that they don't close outside our predefined range. In light of this, and as e head into tonight's Asian session, we are going to switch things about a little. Take a quick look at the chart for an explanation. As you can see, we are tightening things up and....

As all recent charts indicate, the bitcoin price isn't doing that well as bears seem to dominate the market. The sudden buy pressure that we've started seeing after the bitcoin price started falling below the support level of $220 might result in another correction. It's Bears vs Bulls once again. It's still hard to make out if the bulls managed to overcome the bears after the support level of $220 was breached. However, it's clear that most positive btc price spikes today were met with a negative overturn despite the healthy buy activity. As seen on the chart below, the price only managed....

Perhaps while you were having your dinner or watching your evening TV programming, you missed a very exciting moment when it comes to the ever-changing price per Bitcoin. On the Mt. Gox exchange, the price actually reached a whopping high of $900 at around 8PM Eastern Monday evening. Just for a frame of reference, that's up $400 from what the price was a little over 24 hours ago, at $500 per coin. The incredible high prompted a brief sell-off, with the price dipping to just over $600, at which point in time buy-ins happened yet again. As of this writing, the price is at about $750. Like....

Quotes

Just tried to buy breakfast w bitcoins. Refused. #whenwilltheworld catchuptomyhipness? (taken from his official twitter page)